Comments on: Middle-class American dream needs less real estatehttp://blogs.reuters.com/breakingviews/2012/06/14/middle-class-american-dream-needs-less-real-estate/
Wed, 25 Feb 2015 12:39:06 +0000hourly1http://wordpress.org/?v=3.8.3By: roboticowlhttp://blogs.reuters.com/breakingviews/2012/06/14/middle-class-american-dream-needs-less-real-estate/comment-page-1/#comment-9388
Sat, 16 Jun 2012 02:00:47 +0000http://blogs.reuters.com/breakingviews/?p=12221#comment-9388The problem with putting deductions for charitable contributions in the same bucket as those for retirement savings or mortgages is that they (at least in theory) benefit needy causes.
If I pay for a house or put money in an IRA, I’m the only one benefits (banks aside). If I donate to a charity, people or organizations who need the money — poor people, students who need tutoring, non-profit research groups, etc. — benefit. Charities fill gaps in social services and (ideally) reduce government spending.
I can see a need for refining definitions of what constitutes a tax-deductible charity. However, removing this incentive for people to donate will likely lead to a reduction in services and a further burden on the government budget.
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